Adam O’Brien Acquires Shares of Bitcoin Well Inc. Pursuant to Conversion of Convertible Note
September 09 2021 - 7:49PM
Adam O’Brien (“
Mr. O’Brien”), a director and chief
executive officer of Bitcoin Well Inc. (formerly Red River Capital
Corp.) (the “
Company”) today announced that on
August 27, 2021 he acquired an aggregate of 6,250,000 common shares
(“
Common Shares”) of the Company pursuant to the
conversion (the “
Conversion”) of a non-interest
bearing convertible note (the “
Note”) in the
principal sum of $750,000, which was issued to Mr. O’Brien on
August 1, 2020. Pursuant to the terms of the Note, the Common
Shares issued in connection with the Conversion were issued at a
deemed price of $0.12 per Common Share.
Prior to the Conversion, Mr. O’Brien had
ownership and direction or control over an aggregate of 73,242,815
Common Shares, representing approximately 44.92% of the issued and
outstanding Common Shares on a non-diluted basis. As a result of
the Conversion, Mr. O’Brien has ownership and direction or control
over an aggregate of 79,492,815 Common Shares, representing 46.95%
of the issued and outstanding Common Shares on a non-diluted
basis.
The securities of the Company were acquired for
investment purposes. Mr. O’Brien may, from time to time, increase
or decrease his beneficial ownership or control in the Company as
circumstances and market conditions warrant.
This news release is issued pursuant to National
Instrument 62-103 – The Early Warning System. A copy of the related
early warning report can be obtained from the Company at (780)
423-7215 or on the Company’s SEDAR profile at www.sedar.com.
The Company’s head office address is located at
10142 -82 Avenue NW, Edmonton, Alberta T6E 1Z4.
About Bitcoin Well
Bitcoin Well offers convenient, secure and
reliable ways to buy and sell bitcoin through a trusted Bitcoin ATM
network and suite of web-based transaction services. The Company
generates revenue and based on management’s assessment of
publicly-available data, is the first publicly traded Bitcoin ATM
company in the world, with an enterprising consolidation strategy
to deliver accretive and cost-effective expansion in North America
and globally. As leaders of the longest-running, founder-led
Bitcoin ATM company in Canada, management of Bitcoin Well brings
deep operational capabilities that span the entire value chain
along with access to proprietary, cutting-edge software development
that supports further expansion. Sign up for our newsletter and
follow us on LinkedIn, Twitter, Facebook and Instagram to keep up
to date with our business.
Contact Information
For investor information, please contact:
Bitcoin Well
10142 82 Avenue NWEdmonton, AB T6E
1Z4bitcoinwell.cominvestors@bitcoinwell.com
Adam O’Brien, President & CEO or
Dave Bradley, Chief Revenue OfficerTel: 1 888 711
3866 ir@bitcoinwell.comFor media queries and further information,
please contact:
Karen Smola, Director of MarketingTel:
587-735-1570k.smola@bitcoinwell.com
Bitcoin Well (TSXV:BTCW)
Historical Stock Chart
From Jun 2024 to Jul 2024
Bitcoin Well (TSXV:BTCW)
Historical Stock Chart
From Jul 2023 to Jul 2024